The US Department of Justice has indicted more than a dozen individuals and companies, including Gotbit, CLS Global, MyTrade, and ZM Quant. The companies are accused of manipulating cryptocurrencies through wash trading and defrauding investors.

Alexey Andryunin, a co-founder of one of the indicted companies, was arrested in Portugal pending extradition to the US.

Wash trading, a long-established practice in the crypto industry, continues to raise concerns.